Tenant-Occupied 2-Family
36 King Street Waterville, ME 04901
36 King Street, Waterville, ME, 04901
$305,000
For Sale
$305,000
MULTI_FAMILY - Cape Cod - Waterville, ME
Property Size2,411 SF
Lot Size0.18 Acres
Price / SF$126.50
Days on Market52
Property Features for 36 King Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RC
- Bathrooms
- 2
- Rooms
- Basement, Bathroom 2, Bathroom 1
- Patio and Porch features
- Porch, Deck
- Interior features
- 1st Floor Bedroom
- Basement
- Unfinished
- Standard status
- Active
- Size
- 2,411 SF
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3203
Utilities
- Sewer type
- Public Sewer
- Heating system
- Zoned, Baseboard, Hot Water(Heating), Oil, Wood
- Water source
- Public
Building Details
- Year built
- 1920
- Number of units
- 2
- Flooring type
- Laminate, Vinyl, Wood
- Building materials
- Wood Frame, Aluminum Siding
- Roof type
- Shingle, Metal
- Architectural style
- Cape Cod
Listing agency
Keller Williams Realty
(207) 553-2605
Listed by
Jeffrey Mateja
(207) 553-2605
Added: Jun 1 Updated: Jul 7 at 4:34PM Checked: Jul 22 at 5:06AM
MLS# 1664844
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This tenant-occupied 2-family duplex offers a Cape Cod-style layout with two separate unit configurations and shared access options. The first-floor unit includes a front porch entry or a side entry into an entry room and convenient laundry area, plus a separate living room and formal dining room with a built-in hutch, an efficient galley kitchen, and three bedrooms. The second-floor unit features a spacious layout with a large, modern kitchen, an adjacent dining room, and three bedrooms. Shared features include dual entry and exit options, a main front staircase to the porch, and private second-floor access. A full unfinished basement sits below with direct stairs from the first-floor kitchen and an exterior side door from the parking area, providing flexibility for storage or an additional work space. An expansive side yard and a storage shed are included.
The property is offered for sale in Waterville, Maine, with RC zoning and a 0.18-acre lot. The units are professionally managed by Spectrum Property Management, with lawn care, snow removal, and maintenance covered as part of the management approach. The listing notes current annual rental income of over $31,200.
For buyers seeking a two-unit setup where management is already in place, this duplex supports owner occupancy of one unit while maintaining rental operations on the other. It also fits investors looking for a managed, tenant-occupied residence with two similar-bedroom counts and practical basement and exterior storage features.
The property is offered for sale in Waterville, Maine, with RC zoning and a 0.18-acre lot. The units are professionally managed by Spectrum Property Management, with lawn care, snow removal, and maintenance covered as part of the management approach. The listing notes current annual rental income of over $31,200.
For buyers seeking a two-unit setup where management is already in place, this duplex supports owner occupancy of one unit while maintaining rental operations on the other. It also fits investors looking for a managed, tenant-occupied residence with two similar-bedroom counts and practical basement and exterior storage features.
Key Highlights
- Tenant‑occupied 2‑family home with first‑floor bedroom and Cape Cod style, built in 1920
- Public utilities: public water and public sewer
- Wood frame with aluminum siding; shingle and metal roofing
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.1k | $16.20 |
| − Vacancy | −$594 | −$0.25 |
| EGI | $38.5k | $15.95 |
| − OpEx | −$11.5k | −$4.79 |
| NOI | $26.9k | $11.17 |
2,411 SF · lease $16.20/SF/yr · vacancy 1.52% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$384.6K
$336.6K – $448.8K
NOI $26,925 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$335.5K
$293.6K – $391.5K
NOI $23,487 @ 7.0% cap · market cap 7.70%
Theoretical Best
Warehouse
$3.60M
$3.15M – $4.20M
NOI $251,788 @ 7.0% cap · market cap 82.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Tenant-occupied duplex with two managed units and a shared basement, built for straightforward owner-occupy or rental use.
Where is this duplex located?
The property is located at 36 King Street Waterville, ME.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Tenant‑occupied 2‑family home with first‑floor bedroom and Cape Cod style, built in 1920; Public utilities: public water and public sewer; Wood frame with aluminum siding; shingle and metal roofing
